Crypto market cap slips below $1 trillion after the release of CPI inflation data for August.
Bitcoin was back to trading at $20k once again amidst stocks crashing and losing $1.6 trillion in a day. The losses were triggered as a result of the new CPI (Consumer Price Index) inflation data for August showing ‘above expectations’ figures. At the time of writing, BTC was trading at $20,246, down by 9.2% since yesterday. Ethereum was back to trading at $1,600 after a dip of 6.3%.
The total market cap once again slipped below the $1 trillion mark after it saw a decline of 6.78% in the last 24 hours. Among the altcoins, Solana, Avalanche, and Polygon were the worst losers.